Original|Odaily
Author|Wenser
On May 22nd, the third phase of the Jupiter Launchpad LFG voting will begin, and the candidates for this phase are the cross-chain interoperability protocol deBridge, the betting platform Divvy.Bet, and the NFT marketplace Exchange Art, which is nearly half the number of candidates compared to the previous two phases of 5-6 candidates. It is worth noting that based on past voting activities and community feedback, the LFG platform has also made certain changes to the voting rules to better play the role of the platform. *Odaily will introduce and briefly explain the changes to the rules of the LFG platform in this article. *
Take a hole: fewer projects, only winners
1 Vote, 1 Winner. - Changes to the voting rules for the third phase of the LFG
According to the Jupiter LFG Phase 1 Voting and Phase 2 Voting pages, a total of 201 million JUP votes were cast in the first phase, and in the end, Zeus Network received more than 58% (about 117 million votes), while other projects received 2% to 20% of the votes. A total of 230 million JUP votes were cast in the second phase, and Sanctum received more than 64% (about 146 million votes) of votes, while other projects also received votes ranging from 2% to 20%.
Therefore, from the voting results of the first two issues, we can see that the LFG Launchpad voting is a “winner-takes-all” platform activity. Because communities with more long members and more long votes can get a huge amount of attention in the early stage, and then get the first-mover advantage of the voting interface, so as to ensure that the corresponding project can get the final first place in voting.
**Therefore, in a way, other projects are just “accompanying the BCH to study”, although they can get a certain amount of attention, but they still do not get the opportunity to launch LFG Launchpad, and they also waste other votes in disguise. **
This has been mentioned in previous community discussions and proposed change resolutions, and LFG official Slorg said, “Securing a single winner will allow the LFG platform to pay closer attention to the project once it goes live to provide it with the best possible go-live experience.” In addition to this, the platform is willing to accept exceptions in cases where the votes are very close. For example, in the case of 45% and 44% of the first and second places in the vote, respectively. ”**
Of course, it can also be seen from here that the main issue involved is the “follow-up operation” in the voting process, so the next change is obvious.
LFG Phase 1 Voting Results
Avoid conformity: Process blind selection mechanism to ensure that the results are real
Blind Voting is necessary. - Changes to the voting rules for the third phase of the LFG
In the explanation of the changes to the voting rules for the third phase of the LFG, the official explanation for this is:
"In the previous 2 polls of the LFG, the voting process was publicly visible in the voting interface. What we’ve observed is that projects with a lead will see their lead build over time, prompting more long people to vote for them. We have tried to show the results of the poll longest times and think it is worth trying to hide the results in this poll. Blind voting will (to some extent) eliminate the bias of voters voting for the current leader in the vote because they expect to receive longest rewards. ”
It has to be said that the previous voting results can be seen in real time, although to a certain extent to ensure the openness and transparency of the voting results, but it is indeed easy to lead voters to follow the crowd and choose the leading number of votes of the project, on the one hand, this design may lead to the phenomenon of “brushing votes”, whether it is the project party, the Whale with a large number of chips, or ordinary voters, will choose the project with a higher number of votes that are more likely to be launched on Launchpad; On the other hand, in the field of voting, which may produce a “tragedy of the commons”, there are indeed many long people who blindly vote without knowing the voting rules and the specific information of the project being voted on. Therefore, the introduction of a blind selection mechanism in the voting process can indeed ensure the authenticity and validity of the voting results to a certain extent.
In other words, the third phase of the LFG, which introduces a blind voting mechanism, will keep the suspense of the final winning project until the end of voting, and during the voting phase, voters will engage in a subtle “psychological game” - not only their own voting impact, but also the voting propensity of longest people. **
Of course, the community’s views on the inclusion of the blind selection mechanism are not entirely unanimous. **
As mentioned in previous community discussions and proposed change resolutions, for the blind selection mechanism-
On the one hand, the arguments of the pro-side include:
- It reduces herd behavior;
- There may be fewer “strategic voters” (i.e., follow-up votes based on votes);
- Boost voter confidence and encourage more thoughtful voting.
On the other hand, the arguments of the opposing side include:
- Drop transparency;
- May drop participation (people just vote instead of discussing projects);
- Unintended results may occur;
- In fact, the voting results on the on-chain are not hidden;
- People can’t give feedback on real-time usage long wick candles.
**In any case, the addition of the blind voting mechanism in the third phase of voting can be regarded as an active attempt by the LFG platform, and further adjustments and specifications should be made in the future depending on the voting results and community feedback. **
LFG Phase 2 Voting Results
Flexible voting: partially stake, see before you vote
In addition to the above two rule level changes, the third phase of the LFG voting also made 2 more flexible and detailed changes based on community feedback:
Partial staking feature has been launched
Some voters want to stake some JUP Token instead of stake all Token, and this feature is now live.
**Note: When a stake is partially canceled, users can only vote with JUP Token that are still stake. A Token that is stake by partial cancellation will have no voting power at all, unlike the linear decreasing voting power feature that maximizes the cancellation stake. **
Voter-informed timer
A good voter should know what to vote for before voting. In order to help users understand the relevant information before voting, LFG officials have set a new timer on the voting page. Any voter will need to wait a few minutes after opening the voting interface before they can vote. During this time, voters will be reminded to delve into the voting content, and all voters will receive active staking rewards regardless of which project they vote for.
It can be seen that the LFG platform official wants to encourage voters to make their own judgments and exercise their voting rights prudently after having a certain understanding of the project, rather than simply to obtain stake rewards or other potential Token incentives. **
Summary: The third phase of voting may be
In addition to these relatively large rule changes, Jupiter has also made a number of improvements to the LFG Launchpad workflow and external information disclosure, including:
- Launch of JupiterDAO as an announcement channel for subsequent DAO information and voting-related information;
- The UI description and related optimizations of the active staking reward (ASR) will be carried out in the future (note: everyone who participates in the voting can receive this reward);
- Changed the AMA on Discord to Twitter Space;
- Give unique character identification to candidate projects and their associated people in Discord;
- Create a calendar of related events to more accurately display a timeline of LFG platform workflows.
Jupiter’s official calendar of events
Not only that, considering the form and channel of the external publicity content of the voting candidates, the LFG platform officials are also considering whether the voting video explanations (such as the 30-second introduction of the candidate items, Depth Explanation, interview dialogue videos or clips of candidate project interviews, etc.) can be added in the future, so as to facilitate voters to quickly understand the candidate projects and make voting decisions.
In terms of the launch of the Launchpad project, the LFG platform has also updated and iterated on the anti-bot function, which will be implemented with the help of dynamic Liquidity Decentralized Finance protocol Meteora in the future, and is expected to be used when the subsequent UpRock project is launched.
Finally, according to the latest news released by JupiterDAO, the third phase of the LFG voting will start at 1 o’clock on May 23 for three days, and users who previously participated in the JUP stake can participate on time.
Protocol to the social media platform data of previous AMA tweets, compared to **** betting platform Divvy.Bet**, **** NFT marketplace Exchange Art****, **** cross-chain interoperability protocol deBridge** ** is expected to be the winner of this round of voting, and after the introduction of blind selection mechanism and flexible voting function design, can LFG’s third phase of voting once again attract the attention of the market, Let’s wait and see if the active participation of users will lay a good foundation for the launch of the subsequent project. **
